STAND. COM. REP. NO. 1435

Honolulu, Hawaii

RE:    S.C.R. No. 133

Honorable Donna Mercado Kim

President of the Senate

Twenty-Seventh State Legislature

Regular Session of 2013

State of Hawaii

Madam:

     Your Committee on Ways and Means, to which was referred S.C.R. No. 133 entitled:

"SENATE CONCURRENT RESOLUTION REQUESTING THE DEPARTMENT OF BUDGET AND FINANCE TO CREATE A TASK FORCE FOR RESPONSIBLE FISCAL ACTION,"

begs leave to report as follows:

     The purpose and intent of this measure is to request the Department of Budget and Finance to create a Task Force for Responsible Fiscal Action.

     The measure requests that the task force:

     (1)  Review the fiscal imbalances of state government, including but not limited to:

          (A)  Analyses of projected state expenditures;

          (B)  Analyses of projected state revenues; and

          (C)  Analyses of the current and long-term actuarial financial condition of state government;

     (2)  Identify factors that affect the long-term fiscal imbalances of state government; and

     (3)  Analyze potential courses of action to address factors that affect the long-term fiscal imbalance of state government.

     Your Committee received testimony in support of this measure from a private individual.

     Your Committee received comments on this measure from the Department of Budget and Finance.

     Your Committee finds that it would be prudent to take proactive measures to ensure the long-term financial health of the State.  Your Committee also finds that the purpose of the task force proposed by this measure would be to plan for the long-term growth and stability of state finances by projecting revenues, expenditures, and the State's actuarial financial condition.

     As affirmed by the record of votes of the members of your Committee on Ways and Means that is attached to this report, your Committee concurs with the intent and purpose of S.C.R. No. 133 and recommends its adoption.

Respectfully submitted on behalf of the members of the Committee on Ways and Means,

____________________________

DAVID Y. IGE, Chair